When trying to purchase a new home, it can be overwhelming to think about trying to save for a down payment. For most people, this is the largest single sum of money that will ever leave their account. For many, even the thought of having to save such a large sum can seem insurmountable.

Coffee

Having a daily coffee from a coffee shop rather than making your own at home can really add up over the long run. The average American spends $1,000 each year on coffee and flavored beverages at coffee shops. Instead of visiting coffee shops, make your own coffee at home or make a resolution to give up caffeine altogether! It may seem like a major challenge, but it’s a worthwhile sacrifice to become a homeowner.

Gym Membership

While being a member of a local gym is something that many people do, it’s often something that comes as the result of a New Years resolution or another phase. The average American spends $700 per year on a gym membership, but the majority stops using this membership within the first five months! Not to mention, if you do go to the gym you could end up getting major gym gear envy, causing you to break the bank at Lululemon. With all the free resources to workout online – like Blogalates, Kayla Itsines, and Tone It Up – there’s no reason to continue to subscribe to a costly membership.

Cable

The average American pays $1,100 per year on cable. Instead of paying for cable, try purchasing a streaming player – like Roku, Apple TV, or Amazon Prime Stick – and subscribe to streaming providers – like Hulu, Netflix, and HBO Now. At $10-$15 per month, you’ll save around $900 per year!

Takeout

If you purchase takeout for lunch every workday, you could be spending a whopping $3,000 per year on takeout! Compared to the $1,000 per year that people who pack their lunch pay – you’re massively overpaying (and likely not eating as healthily as you should). Cut back on takeout and save yourself $2,000 this year.

To learn more about Merit Real Estate and the services we provide, visit www.MeritRealEstate.com or call 310-379-4444 today!